London Arbitration Clause Samples

London Arbitration. (a) Any dispute, controversy or claim arising out of or in connection with this Agreement, including any question regarding its formation, existence, validity, interpretation, performance, breach or termination and any application for interim, preliminary, equitable or injunctive relief, shall (to the exclusion of any other forum) be referred to and finally resolved by arbitration under the Arbitration Rules of The London Court of International Arbitration (the “LCIA”), which rules are deemed to be incorporated by reference into this Section. Any attempt by a Party to seek relief or remedies in any other forum shall constitute a breach of this Agreement and entitle the other Parties to damages, equitable relief and full indemnification against all costs and expenses incurred in connection therewith. Each Party shall be obliged to post security for costs as directed by the arbitral tribunal (“Tribunal”). (b) The Tribunal shall consist of three arbitrators. Each of Sellers A and Sellers B (acting jointly) and Purchaser shall nominate one arbitrator and the two arbitrators nominated by the Parties shall, within thirty days of the nomination of the second party-nominated arbitrator, agree upon and nominate a third arbitrator who shall act as Chairman of the Tribunal. If no agreement is reached within thirty days or at all, the LCIA shall select and appoint a third arbitrator to act as Chairman of the Tribunal. (c) The seat, or legal place, of arbitration shall be London. Proceedings shall occur at locations agreed by the parties or directed by the Tribunal. (d) The language to be used in the arbitral proceedings shall be English. (e) Each Party, being a sophisticated commercial entity with access to counsel, irrevocably waives and forever and unconditionally releases, discharges and quitclaims any claims, counterclaims, defenses, causes of action, remedies or rights that it has or may have in the future arising from any doctrine, rule or principle of law or equity that this Agreement or any of the relationships and Transaction contemplated by this Agreement (i) are against the public policy of any relevant jurisdiction; (ii) are unconscionable or contravene any laws relating to consumer protection; (iii) are usurious or call for payment of interest at a usurious rate; (iv) were entered into under duress; (v) were entered into as a result of actions by the other Parties that violated its obligations of good faith or fair dealing; (vi) constitute illegal gamblin...